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20130116
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Search Results 0 to 24 of about 25 (some duplicates have been removed)
Current
Jan 15, 2013 5:00pm PST
, why does the debt ceiling exist in the first place. does it serve any function? >> it doesn't. essentially, the one function it does serve is members of congress can be hypocritical. they can vote for spending. and then pretend a year later when the bill comes due that they don't have to pay for it. and berate the excessive spending. it is really a tool for constant and unrelenting hypocrisy by congress. if we pass a budget, when we do that's what affects the debt ceiling. if you pass a budget and there's a trillion dollars that will be spent on iraq and you have no way to pay for it, the debt becomes due and you've got to pay that bill. so the debt ceiling has been abused frankly by both parties but in the past, it has been about hypocrisy and grandstanding. now it is actually about defaulting on our bills. so congressman nadler and i and others are saying hey look, it is time to be straight with the american people. if we vote for a budget that requires cuts or revenues, then at the moment we vote for the budge set when we have to take responsibility for the consequences. >> john: sir, yesterday in the president's press conference, he mentioned how an spp downgrade he blamed it o
PBS
Jan 15, 2013 10:00pm PST
were threatening to vote against raising the debt ceiling. if congress didn't act by august 2, the federal government would be unable to pay its bills. >> in 2010, when all these republicans were running for congress, many of them avowed tea partiers and the rest of them riding the tea party wave, the subject of the impending debt ceiling came up frequently and virtually all of them campaigned saying... pledging not to raise the debt ceiling. >> narrator: early on, republican freshmen attended orientation sessions. republican strategist frank luntz ran one of them. >> and i asked the question, how many of you are going to vote for the debt ceiling? and only three or four of them raised their hands. and i said, if you vote for the debt ceiling, the people who put you in office are going to knock you out. >> if you vote for the debt ceiling, you're voting for your own death certificate, political death certificate. >> narrator: for his part, the president decided to try something new: personal politics. he figured he could connect to the republican leader, john boehner. >> obama told
MSNBC
Jan 15, 2013 10:00pm PST
post," ryan, so really, they on the debt ceiling, if all the democrats voted to raise it they would only need 18 republican votes to raise it. is that the kind of thing we're going to see happen? >> i mean, you're either going to see that or a complete and total cave. but i don't think you will see a complete and total one, because you have the tea party still hanging around. so you know, i think it will be more like you saw with sandy and what you saw with the fiscal cliff. a lot of democrats, and a not insubstantial number of republicans, by no means a majority, but 50 to 80, something like that. >> well, the voting for an increase in the debt ceiling by the republicans is gaining some real support here. a tweet by the former worker in the bush white house, he tweeted, i don't think i can make it anymore clear there is no alternative rational reason for raising the debt ceiling. and on the republican side, susan colins recognized it needed to be raised. that has already occurred. another item coming out of alaska on lisa murkowski, republican senator. at a news board meeting on ja
FOX Business
Jan 16, 2013 4:00pm EST
. the debt ceiling is just there and, says you can not pay the bills that you voted to incur a year ago and two years ago and three years ago. and that is just wrong. now it used to be harmless in that the debt ceiling would be raised with a little demagoguing here and there but no one ever seriously suggested not raising it. it was raised seven tiles during the second bush administration with no great debate. but now it is being used as blackmail and could wreck the entire american economy if we don't --. david: hold on a second, congressman. 2002, june 2002 two, in november, 2004 and november 2006, guess who voted against raising the debt ceiling. jerry nadler, member of congress. what has changed. why were you against, in favor of keeping debt ceiling restraint then and not so now. >> it because it was meaningless gesture frankly. when you had a republican president and republican congress minority demagogued and said we'll vote against it knowing perfectly well it would pass. no one ever seriously tried to have it not pass. and when ever, we were in the majority, we, democrats w
CNBC
Jan 16, 2013 1:00pm EST
congressional vote on raising the debt ceiling. the white house has said, indicated through the spokesman, that they have no interest in doing that. they don't think they are entitled to do that. why do you think they are so cool on this idea and can they envision their point of view changing. >> if congress is ultimately so irresponsible that it plunges this country into default, it will be a new day for the president and he will have to decide whether to use that authority to rescue the economy from catastrophe. i can see why the president would be restrained on it. he wants to negotiate number one. he wants congress to be responsible, number two. you know, in the past, the debt ceiling was an opportunity for grand standing by both parties. in fact, senator obama voted against the debt ceiling increase. but it's been weaponized now. it has gone beyond grand standing into lectures on fiscal responsibility to justify -- go ahead. >> i see that and i absolutely -- i understand that. but one of your colleagues yesterday, tom grays of georgia, says the president is wrong to think that the debt cei
FOX Business
Jan 15, 2013 9:00pm EST
debt ceiling? >> the ultimate impact is the president will have to make some tough choices, but this is a guy who says, do as i say, not as i have done and you correctly point out he voted against raising the debt ceiling. suddenly the table has turned. if he was smart he would be more conciliatory to republicans instead of on-duty challenging them. gerri: far from it. the president says the responsible thing to do. making a like the republicans still want to do anything responsible for are not concerned about the nation's debt. what would be the consequences of letting the debt ceiling just -- not paying any attention to it? would it be hazardous? is this going to be something bad for the country? >> not necessarily. gerri: let's let brad answered. >> what happens is overnight the government has to go to a balanced budget. consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the tre
FOX Business
Jan 16, 2013 12:00am EST
all sides on this. republicans have voted against the debt ceiling increase. democrat president. dome kratz like the president voted against raising debt limit when he was in the senate and there was republican president. there is hypocrisy all over the place. what was particularly bothersome from the president we didn't hear from him any suggestion of where he wants us to go to solve the long-term problem. i go back to what we all understand is the cause of the problem here and that is entitlements and we need structural reform. melissa: last word real quick, we have to go. >> we'll never get to entitlement reform with a gun to your head that is what is happening with the debt ceiling. >> we didn't get to it fore then. melissa: great discussion. next on "money", a stunning number of americans are using their 401(k)s to pay for every day expenses. a top financial planner said you couldn't make a worse decision. he is here to explain. we also asked for some other options if you're in this situation. >>> plus, dand for gas is falling to lows not seen in nearly a decade. many are giving credit to stiff fuel efficiency mandate
CNBC
Jan 16, 2013 6:00am EST
banana republic, especially when you voted for refusing to raise the debt ceiling in 2006, talking about president obama. >> let me give you a history. when i came to the congress in 1977, one of the first days i was there, tip o'neill saw me, said, you look like a nice young guy, we need somebody to carry out the trash. he said carrying out the trash is passing the debt limit increase. i spent five years. this is a crazy story, doing little else than going to my colleagues in the domestemocraty to get a vote in the debt ceiling. everybody wanted to vote against it because it could be used against them in the election. everybody knew it had to pass and every time it would pass by one or two votes after i worked on it for weeks and weeks. i said, this is crazy. everybody knows you have to pass it, you already spent the money, like going in a restaurant and saying, i don't want to pay the bill. that's cracrazy. we passed something called the gephardt bill when you pass the budget, you pass the debt ceiling automatically to accommodate those budget figures. yes, you're right. this iss
FOX News
Jan 16, 2013 8:00am PST
ceiling but i'm not in favor of getting rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment you get the credit card bill and it's the only moment. and if you can't have a sort of reckoning about your spending habits when you see your credit card bill you're never going to have that reckoning. i'm in favor of it. i'm in favor of any speed bumps towards more spending and this is as good as any. jon: the president was talking about it at his news conference the other day. i want to play something that he had to say and get your reaction. >> if congressional republicans refuse to pay america's bills on time, social security checks and veteran's benefits will be delayed. we might n
CSPAN
Jan 15, 2013 8:00pm EST
has said, ", if congress is going to tie the debt ceiling votes, which we have never done in our history, i will not play that game. the president needs to have somebody around him that knows the truth. that poor man is being lied to. all you have to do is look back in our history. every cut -- every time there was a cut in spending, it was often tied to the debt ceiling negotiations. go back to 1985, to 1990, 1993, 1997, 2010. speaker pelosi, in 2010, with president obama, tied a pay-go provision. she did it. why is it so wrong that the republicans want to do that in the house, like speaker pelosi did? let's get responsible. but the president doesn't even remember two years ago when speaker pelosi did that. somebody has got to help this poor man understand recent and distant history before the rating agencies say, you know what? we used to think the rule of law was going to help the u.s. economy and help the federal government get around to taking care of its debts, but these guys don't even follow the rule of law anymore. and as far as what the economists say, yeah, but we have
Current
Jan 16, 2013 3:00am PST
fiscal cliff battle armageddon, whatever you want to call it over the debt ceiling. republicans say they are not going to vote to increase the debt ceiling even though they did so 19 times with no strings attached under george w. bush. they won't do so again this year unless they get massive cuts in social security and medicare. why should we be having this fight after all? shouldn't we just pay our bills as the president says? >> you know, i just wonder if these individuals also when their credit card bill arrives say, no. not going to pay it. >> they might. >> i am not going to pay it. we are spending too much money. so i am just not going to pay my bill. really? it's it's like a non-secquitor. these have been racked up by congress. they have proposed those expenditure. now the bills are due. to put any strings attached to it is kind of nuts. >> . >> what's the way out of it? >> there are six numbers of congress including myself today introducing a piece of legislation to just scrap the idea of the debt ceiling which no other country in the world has. it's an unnecessary encumbrance that the idea, as you -- in
MSNBC
Jan 16, 2013 1:00am PST
debt ceiling proposal. that was from the last time the house republicans threatened the country with defaulting on our debt back in 2011. dennis ross, you probably should have calibrated your place in line a little better. throw a democrat in there ahead of you when you realize that's what you're going to get. get there in time for the repeal prohibition amendment next time. that's more fun. if you have found yourself at home constitutionally -- forgive me, constitutionally incapable of getting excited over having another fight about the debt ceiling this year, if this isn't exciting because it just feels like groundhog day to you, oh my god, i've got reckless brinksmanship fatigue, it is true that it's hard to get excited over something we have done before. it is 2013 now. remember when it happened it was a total disaster. even if you just ignore the political consequences, if you just look at the economic impact, it was a self-imposed economic disaster caused by washington refusing to do something that it needs to do and that it has done dozens of times before. republicans just ref
FOX Business
Jan 16, 2013 6:00pm EST
it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you i've mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress talk about an republican republicans drama. and every one of them has something to do with wanting ... and now you have to pay it. and you better pay and where your country is clearly facing a dire consequences. it shows that you don't give a whit about who's president. >> do you agree with the president and you think that we are risking what? a selloff in the market? 2001. >> what's going to happen if it comes to the worst case scenario here? >> somebody will say, don't forget, we all $16.4 trillion. half of that is owned by private people like your mother or somebody in the city hall or foreign governments and half of that is owned by china. at that point, there are people who say no, i can see you don't hear that, i'm i would loan you some more money because you are strong and hea
FOX Business
Jan 15, 2013 11:00pm EST
ceiling. >> can i finish this one point. at end of day raising debt ceiling is about paying bills that have been incurred. neil: i know that, what were democrats thinking 7 year ago when they voted gain it they were just addressing. >> it was political theater then and now, but now. neil: did you see that then? >> i was in college or grad school. you should have had me on. >> barack obama -- hold on, barack obama was saying it back then, there is so much santa money from the white house, national debt was 10 trillion when he came in, it is 16 trillion, he has not thinked for his talk about corporate responsibility and millionaires and billionaires paying their fair share that last tax bill as more corporate welfare to billionaire friends of barack obama than any pork bill we've seen so far. >> obama will not last too long when they see this hypocrisy. >> i cannot believe we're calling it responsible to consider defaulting on some of our obligation today so maybe at some point in the future there will not be a debt collapse. you say we should default today so there will not be a default in the future. neil: he didn't say default, i want to get away from idea we go to financial armaged
FOX Business
Jan 16, 2013 3:00pm EST
debt ceiling. people are starting to feel a little bit more optimistic that might be less of an issue going forward. i still think it is a great focus people are afraid. we're pretty complacent and the volumes are really waiting to see what will happen in washington, i think. liz: charlie, you're looking at 13.25, again, another historic low for the volatility index. it is not telling me anything. what indicators to look at as a trader in the pit? >> i look at moving averages. take a look, the s&p has really held on to the moving average and a few breaks every time it has bounced off, you're doing pretty well. you look at what came out midsession today, and we're going sideways to a little higher. business activity is kind of sideways, you mentioned the housing market is starting to show some signs of life. if we can get the bankers doing quite well in terms of the stock, but in terms of generating the loans, we went from one end of the pendulum to free money and anybody who wants it to really constricting and making refinances quite hard as well as i just purchased a new home, i went
CSPAN
Jan 16, 2013 5:00pm EST
debt ceiling, some republicans believe such an event would be manageable in the short run, at least, they say, they won't vote for a higher debt ceiling until democrats accept spending cuts. many see this as risky. one said tuesday he would introduce legislation next week instructing the white house to prioritize the government's bills. what's wrong with the idea? >> guest: two things. first of all, we've had some deficit reduction. the president laid out a couple days ago. we had over $2 # trillion. we had a trillion and a half that came from previous actions, and then we added just a few days ago some further deficit reduction through increased taxes on the very wealthy of this country. we already begun to undertake deficit reduction. to use that as a reason to use the debt ceiling as a weapon is really playing with fire. they say pay some bills and not pay others. we've never tried that before. >> host: is it feasible? >> guest: i don't think so. which bills? social security? veterans? people out fighting for this country? which bills do you pay? we never tried that. i think the president put it so well. this
MSNBC
Jan 16, 2013 6:00am PST
template for how, by the way, the debt ceiling might ultimately get raised. on the tax deal, house republican leaders had political cover from senate republicans. on sandy, chris christie provided the political cover, leaving house leaders, frankly, cowering. now the kotch brothers, through a group they backed, called americans for prosperity, are the latest to give boehner and other house leaders cover on the debt ceiling, as they get their rank and file to pick other political fights. tim phillips, president of americans for prosperity, told the financial times, quote, we're saying calibrate your message, focus on long-term spending instead of long-term debt. focusing on the debt ceiling makes the message more difficult. when i asked walden about the debt ceiling yesterday, he was clearly noncommittal, hinting on where the republican leadership maybe is on this. if there's not a majority in the house republican to raise the debt limit, but there is a majority in the house of representatives to raise a clean debt limit, would this leadership be willing to do that? >> you know, let
MSNBC
Jan 15, 2013 4:00pm PST
. from the debt ceiling to the nra to the neocons. taking them on. the president is sticking it to his opponents, and he's winning. >>> and the house of representatives is voting on a relief package for the victims of superstorm sandy. will republicans stand up to help those hit by the storm? or stand in the way? >>> let me finish with a republican party that's beginning to sound and look like a pack of moonshiners. they don't like those revenuers. this is "hardball," the place for politics. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, h
CSPAN
Jan 15, 2013 8:00pm EST
tax reform is going to lose out because of scheduling and needing to deal with the debt ceiling and the looming sequester and house republicans concerned that if they do anything on tax reform, that they may leave themselves open to the senate not taking action. therefore, they have taken in on popular vote for no reason. >> first of all we have to solve this debt crisis in terms of sequestration and in terms of the full faith and credit of the u.s. and. we are not going to accomplish tax reform in the next six weeks. so we have a deadline that cannot basically be moved for what we need to do in the next six weeks. so that would leave adequate time to tackle the longer-range problems. we will not publish tax reform in the next six weeks, but we need to essentially deal with the sequester. since we find a balanced approach that is going to raise the trillion dollar surplus to it. that is why i have some optimism. because we need to face up to the next six weeks and solve it and then move on. >> [inaudible question] i'd like to ask you about one of the big things involving entitlement reform. how big of a package would you need to see in terms of republicans for you to entertain serious reform. talking about taking the debt ceiling off the table for the next four years. it's not big enough for
Search Results 0 to 24 of about 25 (some duplicates have been removed)